Project Lead(s): Tom Walker
Private and public investors are injecting $2 million into a Canadian mobile health innovation that offers hope of preventing thousands of deaths and improving the health of expectant mothers, newborns and children throughout the developing world. LionsGate Technologies (LGTmedical), a Vancouver-based social enterprise, has secured its first major financial backers to scale up development of the Phone Oximeter™, an app and medical sensor that turns a non-specialist, community-level health worker’s smartphone, tablet computer or laptop into an affordable and simple but sophisticated medical-grade diagnostic tool, which is currently typically available in the developing world only in some hospitals. Mr. Irfhan Rajani, CEO of Vancouver-based Coleco Investments, leads a $1 million angel investment in the device, to be matched with a $1 million grant from Grand Challenges Canada – the first such investment under a new $10 million strategic partnership between Grand Challenges Canada and the Department of Foreign Affairs, Trade and Development Canada (DFATD). For more information, read the News Release issued on March 9, 2014. Follow LGTmedical on Twitter @lgtmedical.